Abhinav College Sealed: Abhinav Engineering College in Pune’s Wadwadi area faces an unprecedented crisis as Bank of Baroda seals the campus over a Rs 32 crore loan default, leaving 800 engineering students’ future uncertain. The prestigious institution, operational since 2009, was taken into possession following a court order on January 6, just days before crucial engineering examinations scheduled for January 17.
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The campus, valued at Rs 132 crore and sprawling across 14 hectares near Bhor city, houses multiple educational programs including six diploma branches and five degree courses in engineering. The sealed property includes a 4,19,000 square feet building with assets worth Rs 100 crore.
Rajiv Jagtap, heading the Abhinav Education Society, assured stakeholders about ongoing negotiations with Bank of Baroda. “We’re implementing immediate measures, including transitioning to online education temporarily. Our primary focus is resuming operations before the January 17 examinations to prevent academic disruption,” Jagtap stated.
The closure affects a diverse student body, including 550 degree students, hundreds of diploma candidates, and approximately 250 English medium school pupils. Many students, particularly those from rural Maharashtra residing in campus hostels, were visibly distressed during the evacuation.
This isn’t the first time the institution has faced such action. Two months prior, students successfully prevented bank officials from sealing the premises through protests. However, this time, the bank has stationed security guards to maintain possession of the property.
The management remains optimistic about resolving the financial crisis, highlighting the significant value of their assets compared to the outstanding loan amount. The institution’s location near Bhatghar Dam and its extensive infrastructure make it a valuable educational asset in the region.
The situation represents a critical juncture for both the institution and its students, particularly with upcoming examinations. The management’s ability to resolve this crisis before January 17 will be crucial for the academic future of hundreds of students from across Maharashtra.
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